Nippon Steel Corp announced January 28 its next Mid-Term Management Plan for implementation during fiscal 2010 to fiscal 2011 with the title: "For Establishing New Growth Path to Fight Our Way Through Severe Competition by 'Strengthening the Base for Enhancing Competitiveness' and 'Expanding Globalized Production and Supply System' ".
Envisaging the next five to ten years, the Company intends to work on building up a crude steel production capacity of 50 to 60 million tons per annum (Mt/a) during the two-year Mid-Term Planning period, of which 40 Mt plus is conceived to derive domestically and the balance overseas. The Company also plans to raise the ratio of raw material procurement from its equity accounted units from current 35% to 45%.
The Company has it that "it is becoming increasingly important to secure more interests in raw material procurement sources. Finding good projects, Nippon Steel would positively go out to gain access to them." (Shoji Muneoka, Representative Director and President) and "the Company is trying to approach brownfield projects having railway, port, mines in place." (Shinichi Taniguchi, Representative Director and Executive Vice President) |
